Wishbone Gold PLC Drilling Update for Red Setter and Cottesloe (9106P)
October 12 2023 - 2:00AM
UK Regulatory
TIDMWSBN
RNS Number : 9106P
Wishbone Gold PLC
12 October 2023
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR
12 October 2023
Wishbone Gold Plc
("Wishbone" or the "Company")
Drilling Update for Red Setter and Cottesloe
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), announces that the
Reverse Circulation ("RC") drilling program at its Red Setter
project has been completed, with samples now en route to Intertek's
laboratories, with assay results expected in the next 4-6
weeks.
As previously reported on 13(th) December 2022, initial assay
results from Red Setter confirmed the geological observations of a
broad hydrothermal system with gold and copper associated with
quartz-carbonate-sulphide veins present within all lithology types,
and often with breccia textures.
Diamond drilling starts at Wishbone's Cottesloe project in the
next two weeks targeting the Sedimentary Exhalative ("SEDEX") base
metal system previously reported. Raglan Drilling will be carrying
out the work at Cottesloe and have extensive experience in the
area.
The Cottesloe project is located around 55 km south of Newcrest
Mining's Telfer gold mine and about 35 km south-east of the Red
Setter project in the Paterson Range, Western Australia.
Richard Poulden, Wishbone Gold's Chairman, commented: "We are
pleased that the latest drill program at Red Setter has been
finished without event and look forward to the assay results
providing further understanding of the hydrothermal system and the
structure of the mineralisation. We are excited to start the
diamond drilling campaign at Cottesloe which we anticipate will
prove up a large base metal system."
As previously announced on 18(th) September 2023, highlights
from the Cottesloe program include:
-- Basin stratigraphy has been confirmed to be highly suitable
for sediment hosted base metal mineralisation similar to that at
nearby Cyprium Metal's Nifty (Cu) and Maroochydore (Cu-Co) mines
and also the Mt Isa style (Zn-PbAg) deposits
-- Large sulphidic and pyritic shale zones encountered with widths over 70m
-- Initial onsite x-ray fluorescence spectroscopy ("XRF")
results show elevated Cu (copper), Pb (lead), Zn (zinc), Co
(cobalt), Ni (nickel), K (potassium), V (vanadium), Ti (titanium)
present in RC drill chips
-- Highly encouraging thick sulphide zone in hole 23CTRC0001
confirms the architecture and target zones are consistent with the
exploration model
-- RC pre-collar drilling program has been successfully
completed with the aim of establishing water bores for diamond
drilling and testing the upper parts of the geological model using
RC
-- The costs of the diamond drilling programme are to be 50%
funded by the WA Government's EIS scheme up to a total of $220,000
of direct drilling costs.
-- Nifty mineralisation style is being targeted at Cottesloe.
Nifty has produced more than 700Kt of copper metal with a further
940Kt in resource
For more information on Wishbone, please visit the Company's
website https://wishbonegold.com/
END
For further information, please contact:
Wishbone Gold PLC
Richard Poulden, Chairman Tel: +971 4 584 6284
Beaumont Cornish Limited
(Nominated Adviser and AQUIS Exchange
Corporate Adviser)
Roland Cornish/Rosalind Hill Abrahams Tel: +44 20 7628 3396
SP Angel Corporate Finance LLP
(Broker)
Ewan Leggat / Kasia Brzozowska Tel: +44 20 3470 0470
Soho Communications Ltd
(Financial PR)
George Hudson Tel: +44 7803 603130
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